Yusen Logistics (Europe) BV announced that it has reached an agreement to acquire Tibbett Logistics, a wholly-owned subsidiary of UK-based Keswick Enterprises Group. This acquisition is subject to regulatory approval by the Romanian authorities.
Tibbett Logistics was established in Romania in 2010, although the business can trace its beginnings back to 2004. The company has since developed into a domestic market leader within the contract logistics, warehousing, transport and intermodal sectors. With its head office in Bucharest and 15 strategic locations nationwide, the company controls over 1,248,613 sq. feet (116,000 sq. meters) of warehousing and employs more than 1,300 people.
In addition, Tibbett Logistics manages the Bucharest international rail freight container terminal (BIRFT). From these strategic locations and with accessibility to railroad transport, Tibbett Logistics can provide its customers with logistics solutions that cover all of Romania and neighboring countries in South East Europe. Tibbett Logistics is currently offering services in multiple major market sectors, but with a particularly strong position within the retail and automotive industries.
Romania is currently one of the fastest-growing European economies, with booming investments in retail and manufacturing and a strong presence in numerous automotive companies. This acquisition provides Yusen Logistics with access and insight into the Romanian market as well as a well-established regional network of warehousing, intermodal and trucking operations run by an excellent team of professionals in Romania. This allows Yusen Logistics’ current and potential customers to benefit directly from comprehensive high-quality logistics services for their current and future opportunities in this fast-growing region.
Tibbett Logistics’ customers, in turn, will benefit from the strength and knowledge of Yusen Logistics and NYK Group, as well as from having access to the comprehensive global network of Yusen Logistics. This will provide them with opportunities to sustain, extend and improve logistics solutions for their business, both in Romania and worldwide.
Shoji Murakami, CRO, Yusen Logistics Europe, commented: “We are very pleased to reach this milestone agreement that provides us with both critical mass and insight in the Romanian market. These advantages will give Yusen Logistics the right tools to increase our activities and to optimally serve our customers in this key region. Moreover, our customers will benefit by receiving logistical solutions for their opportunities in this attractive market. We are therefore also delighted to welcome our new colleagues in Romania and look forward to our cooperation.”
John Harvey CBE, Executive Chairman of The Keswick Enterprises Group, commented: “We believe the sale is in the best interests of all stakeholders – Tibbett Logistics’ customers, suppliers, management, and personnel, as well as Keswick’s shareholders and associated charities. It represents an excellent fit in terms of skills, sectors, services, and geography. Yusen Logistics’ parent company is quoted on the Tokyo Stock Exchange and will bring the resources and strategy required to reinforce and sustain the continued growth of the business. The move will also provide enhanced opportunities for Tibbett Logistics to participate in pan-European logistics tenders.”